Selling products during holiday season, chances are you’re neck-deep in stock management challenges. Since retailers make between 20% to 30% of their annual sales during upcoming holiday season, they need to prepare the ultimate ways through which they can increase sales, nail their marketing strategies, and organize packing, shipping and inventory tracking.
The challenge is to plan a smooth flow when it comes to holiday inventory management system. Un-organized inventory will lead to out-of-stock and lost sales opportunity. In order to avoid that you must be well-planned. Don’t know where to start? No worries!
Below are the steps to manage inventory during busy holiday season.
Analyze your inventory: If you have the facility of assorting data from your previous year’s sales, be sure to take some time to analyze what mix of products sold well during last holidays. Reviewing historical data is indeed helpful in your preparation process. Make sure, you have enough of space to store the extra inventory you are ordering from suppliers in holiday season.
Streamline your order fulfillment process: Inventory, packing, tracking and shipping management can be a daunting task, especially when the holidays bring an influx of orders. In order to overcome these fulfillment processes smoothly, implement helpful order management system that will allow you quickly execute on these tasks during holidays. Search for online, integrated system like “Orderhive” that will help you manage your back-end operations seamlessly that includes tracking of inventory, managing orders, and shipping orders at the speed you need it to be done. Trust me, a proper inventory system and order management system will be worth the investment for small retailers, especially during holidays.
Systematically label your inventory: Utilize appropriate time to systematically label the range of products you have in stock. This will pay back during the holidays when you have to depend on a person help you to pick , pack and ship. Avoid dispatching in-correct products sent and reduce the in-house queries for specific product to fulfill an order.
Invest in a proper inventory tracking: Do not let poor inventory management system cost you money. Invest in a proper inventory management system that will keep your products organized and enable you to sell, pack and ship multiple products swiftly during holidays. Conduct a proper research, gather resources, and find the best ecommerce software solution that will ensure you to automate as much as possible allowing you to focus more on marketing your products.
Systems like “Orderhive” eliminate the hassle to manually adjust your inventory whenever you make a sale and helps you avoid double selling a product. Orderhive allows multi-channel integration with e-commerce giants like Amazon, eBay, Shopify, Bigcommere and many more, allowing your product presence in more places at once. A universal funda of any business, if time and resources are utilized well now it will help boost sales and avoid customer service catastrophe later.